American Tower (NYSE:AMT) PT Lowered to $220.00

American Tower (NYSE:AMT) had its target price lowered by BMO Capital Markets from $228.00 to $220.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

AMT has been the topic of several other research reports. Raymond James raised American Tower from an outperform rating to a strong-buy rating and raised their price target for the company from $226.00 to $248.00 in a report on Wednesday. StockNews.com lowered shares of American Tower from a buy rating to a hold rating in a research report on Friday, March 1st. Mizuho started coverage on shares of American Tower in a report on Monday, April 8th. They issued a neutral rating and a $205.00 target price on the stock. Barclays boosted their price target on American Tower from $224.00 to $234.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $236.00 to $230.00 and set an overweight rating for the company in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of Moderate Buy and a consensus price target of $221.91.

American Tower Trading Up 1.2 %

Shares of AMT opened at $181.76 on Wednesday. The firm has a market cap of $84.76 billion, a P/E ratio of 41.12, a price-to-earnings-growth ratio of 1.40 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.69 and a current ratio of 0.85. The business has a 50-day moving average of $189.32 and a 200 day moving average of $194.30. American Tower has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the firm posted $2.54 earnings per share. American Tower’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that American Tower will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Thursday, April 11th. American Tower’s dividend payout ratio is presently 146.61%.

Insider Transactions at American Tower

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in American Tower by 0.3% during the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after acquiring an additional 196,942 shares in the last quarter. Cohen & Steers Inc. increased its position in American Tower by 3.7% during the fourth quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock valued at $3,549,366,000 after acquiring an additional 583,892 shares during the last quarter. Wellington Management Group LLP raised its position in American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock worth $3,416,004,000 after purchasing an additional 2,839,570 shares during the period. Principal Financial Group Inc. raised its holdings in shares of American Tower by 36.2% in the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after buying an additional 2,336,501 shares during the period. Finally, Morgan Stanley lifted its position in shares of American Tower by 3.7% during the third quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock worth $1,195,545,000 after purchasing an additional 258,030 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.